FX_Rhapsody

USDCAD Breakdown Analysis

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Looking at USDCAD we see some signs of retracement on the daily timeframe. I want to see price retracing up at least another 50 to 80 pips before looking at sell opportunities on the daily. Will keep a close eye on lower timeframes incase price wants to sell from here. COT reports indicate 1k shorts being added to CAD but 17k long positions so selling off USDCAD looks like the bias for this week ahead.
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